| Reasons of increase (decrease) for the quarter compared with same quarter last year |
the company has decreasing the net profit during the current quarter compared to the same quarter of the previous year this is due to increase in net claims incurred by 18% , decrease in other underwriting income by 23% , decrease in reinsurance commission earned by 7% , increase in general and administrative expenses by 25 %, besides the loss from shareholders investments in amount SR 2,101 thousands during the current quarter comparing to profit in shareholders investments in amount SR 1,696 thousands during the same quarter of the previous year ,although increase in gross premiums written by 12% , increase in net written premiums by 17% , increase in net premiums earned by 18% , decrease in policy acquisition cost by 11% , increase in the profit in policyholders investments by 102% . |
| Reasons of increase (decrease) for the period compared with same period last year |
the company has decreasing in the net profit during the current period compared to the same period of the previous year this is due to increase in net claims incurred by 6% , decrease in reinsurance commission earned by 19 % increase in general and administrative expenses by 21 % besides the loss from shareholders investments in amount SR 1,346 thousands during the current period comparing to profit in shareholders investments in amount SR 3,088 thousands during the same period of the previous year , although increase in gross premiums written by 25% , increase in net written premiums by 34%, increase in net premiums earned by 5% , decrease in policy acquisition cost by 17 % , increase in profit of policyholders investments by 74% , increase in other underwriting income by 52 % |
| Reasons of increase (decrease) for the quarter compared with the previous quarter |
The company has increasing in the net profit during the current quarter compared to the previous quarter of current year due to increase net premiums earned by 9 % , increase in reinsurance commission earned by 20% , decrease in policy acquisition cost by 4 % , increase in net profit of policyholders investments by 10% , although decrease in gross premiums written by 2 %, decrease in net premiums written by 2%, increase in net claims incurred by 1%, decrease in other underwriting income by 49% , increase in general and administrative expenses by 10% besides the loss from shareholders investments in amount SR 2,101 thousands during the current quarter comparing to profit in shareholders investments in amount SR 755 thousands during the previous quarter of current year |
| Reclassifications in quarterly financial results |
There is classification in some items. |
| Other notes |
The total comprehensive income during the current quarter is SR 5,750 thousand comparing to SR 6,031 thousands during the same quarter of the previous year decrease by 5% , And comparing SR 2,436 thousands during the previous quarter of current years increasing by 136%. The total comprehensive income during the current period is SR 8,171 thousand comparing SR 9,582 thousands during the same period of the previous year decreasing by 15 %. the total of shareholders equity are SR 142,559 thousand during the current period comparing SR 133,826 thousands during the same period of the previous year increasing by 7 % ( There are not minority interest ). The accumulated loss by the end of current period is SR 56,032 thousand represent 28.02 % of the capital. The external auditors reviewed the interim financial statements and issued an unmodified report . |
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